Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

-Easy To do
-Very Little Money
-No Credit
-Fast CASH
-Minimal Time
-No Tenants or banks
-Fast turn around
-No repairs or contractors
-No License
-Easy to do from home

This is an REO and the details are listed below. What would be the best approach to this. I have some ideas but I will appreciate any help. The property is located well, close to all ammenties but it looks rundown.

1) AP - $294,400K
2) Type- SFH
3) BDR -4, BTH - 2
4) LA - 1,874
5) LS - 7,405
6) YB - 1935
7) ZESTIMATE - 448,000K
TAX ASS.425,170K - 2007. (Are they going to eliminate this?)

This are my approaches:
1) Inspect with Building Inspector to make sure the structure is good.
2) Make an offer, say like 200k and file local county court.

Which strategies are most effective right NOW personally for you that's helping you make lots of money? Are you finding deals and buyers? Please share your successes for 2009. How many deals are you working on? What are some obstacles you are having and why? The more details you share, the better, as it will help us all.

I had a question from someone and I thought to just spill my take on this page.

The question was....

If you read "DEANS LIST" you will come upon a section that speaks of market "cycles". We are obviously at the BOTTOM of the market, more or less, at this time.

A great way to get into the buy and sell or even just the investing business can be buying and selling (or even renting) older mobile homes. These are homes in the late 70's into the 80's and even 90's in some cases. They can be single or double wides.

I just received a phone call that it's illegal what I'm doing.I was sending email offer's with the and/or assigns attached, so they know what I want to do with the property.(Assign it)
I'm assuming this is a Realtor of one of the offers I put in.
So do I just send an plain offer with out the and/or assigns, and when it's accepted, Use the formal offer (purchase agreement)and ad and/or assigns there.

Hi, I'm interested in knowing some information regarding the coaching program. Has anyone else here given it a try? If so, what do you think about it?
Has it helped you and do you really need it to get going?

I read Dean's book a couple of months ago and I'm very excited to get started but I'm a little stuck on where to begin.

Thanks for your help.

My realtor has brought a deal to me...it is a pre-4 comps for 220k, looking to do a short sale with the bank and have a contract written up with me for 150k.

but here is where I question it....The current owner wants me to rent it back to them at 1k a month. The husban is disabled and has no income. He may also be eligible for some subsidy towards his rent based on his disability.

They currently pay close to 1500 a month, but now cant afford it and are in pre-4.

Im very new at this but I am so eager to get started in Real Estate. I've always wanted to do it but didnt have the guts to. Im 23 years old have no money and no established credit but I'm not letting that stop me. I've read Deans book and I think the book is awesome!

Sorry for the newbie question, but I never did understand what the earnest money deposit was for when doing assignment deals. So if anyone can clear that up for me then that'll be great. Thanks.

P.S. And try to be as specific as possible when answering the question, because I am a slow learner, and some times can't understand if you jump too far ahead on a subject. So take it step by step and just be understandable is all I ask lol.